The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-08-09
THE RAILROADS..

luteu0eO 70 DO bOmo poNchsy Ahuop
long, bee ,uss for distance OF about
fifteen miles Il virtually parallels" an
existing road--tbough In fact It starts
from q point several miles distant
from the latter. II the policy OF dds.
allowance" were applied by many OF
che Western States 10 prevent the
building OF parallel roads II would
stop railway building almcs, entirely.
And yet II 10 q question whether the
prevention OF unnecessary roads 10 not
one OF the most important duties OF
the State.
RAILWAY Age: The interstate com.
MERGE law 10 q double edged sword,
cutting both ways. In some direction
1t has no doubt served to increase
railway earnings, while In others 1t
has Gu. them of very seriously. Some
railways have been benefited more
than they have been injured, while
with others the exact reverse Is true.
General Mas ger Henderson OF the
Indiana, Bloomington and Western
road, stt tes that the law will have the
effect to cut down the earnings OF that
read for tbs present year more than
$500, 900. The freight earnings on one
diyisioa will bs reduced at least IS
per cent. Similar results will accrue
TO many other roads, but the incresss
In local business which has resulted
from the improved condition OF the
counry in epite OF the Law will still en-.
able many OF ,hsm to show sn I'm.
provensnt over last year.
NEW YoRx, August s.-Ths affairs
Of the Cincinnati, Hamilton and Day.
ton Railroad Company we're under
consideration In the city today. Henry
8. Ives arrived from Cincinnati today
and met the committee composed Of
q. O. Waite, T. J. Emery and q.
0sAo, Of Cincinnati, and W. r. Nc.
Keen and John O. Williams, OF Terre
Haute, Ind, In the law cffices OF
Hoadlsy, Lsuterbach & Johnson. The
committee Immediately began its
work. LIS inquiry will, IL Ia an.
nouncsd, cover the following points:
The outsta oding preferred stocx, how
much OF this was issued by the au.
thorisation Of tbs directors, whether
the company received the equivalent
OF the new issue at par In money "a
legal requirement.. what has become
OF the cash the company had on hand
according IN the last annual report on
March 81, 1887, and how much OF the
cash reserves OF the company was
used by II, \. Ives 4 90. In changing
the gauge and meeting other ex ,enses
In connection with the narrow gauge
lns which they purcb ased. Mr. Ives
refused 10 talk about his firms sfiairs
or those Of his company. He tele.
graphed 10 Boston this morning that
he WAS oil right financially.
RAILWAY Ag,: II makes a differ.
ence whose foot the shoe pinches.
Boston merchants have come 10 the
conclusion that the interstaie law is
not altogether marvel OF wisdom,
because they find tina, under lie work.
ings the railway, are changing more
from Western points 10 Boston than
10 New York. IL IL trus that the dis
lance 10 greater, bot before the law
went into effect the railways literally
conceded 10 the interests Of Boston by
paying rebates which made the rates
70 the two seaboArd cities the same.
Now the Law prohibits rebates and the
Boston merchants have appealed to
the Iuiereta,e Commerce Commission
10 suspend the unpleasant workings OF
the law in their case, andsven compel
the roads 30 charge no more for the
long than fra short haul. AZ such
q concession would open q door Of
immense proportions through which
every locality In the country would
want 10 drive its own team In order
10 get ah'ai Of lie competitor, II docs
not seem likely that the petition will
be grated. ii the matter could be
regulated by ordinary business princi-
Piles the raj ways would gladly accede
10 the requests OF the Boston met.
chants, but the interstate act Ia based
upon the enforcement Of II. flex / le and
arbitrary rules, aud not upon prlncl.
ples employed In ordinary business.
THH Cincinnati Commercial GsEstte
has the following interview with
Christopher n. Meyer, the largest in
diyidual stockholder In the Chicag;
Hamilton aud Dayton:
"rhtrs Ia bat ono thing that coul,
have brought me away from the Adj
irondacks, where / have besn tryinl
10 take good care OF a case Of indlges
ton, with which have been iroableC
for nearly three years past. aud tina
was the firm conviction that the tin,
had arrived for a reorganlE ion Of tn,
Chicago. Hamilton and Dayton, II
which lam aigely Interested"
"And how do yju propose 10 edec
this reorganization, Mr.. Meyer" ask
ed the reporter.
by cha,ge In the presidency"
when will this be efiected2 2"
This week-at the meeting on sai
urdly."
"Mr. stayner will resisn7"
Yes II Ia step considered necet
sary 10 restore conf ence In the prop
erty. We think II better that IN
president OF the road should be q res
dent OF Cincinnati. and some one l
whom the people Of Cincinnati hav
the utmost confidence. There IL n
question that the property hrs sufiere
greatly Of late and this 10 what We Il
tend 20 check"
Who have you decided upon
take Mr.. stayner's place ?"
There have been suggested III
names OF two gentlemen, either
whom, ] bslieve, placed q, the hes
oil the road, woud acc ,mplIsh the oil
jlct We aeek 10 attain. They are thos
OF Mr.. O. q. Waite, the present sscou
vice pretidtn. Of thu road, and Mr..
II. Harriton, president a the Ft
Natiotal hank Of this city"
"By the way, Mr.. Meyer, You ha'
generally been accredited With bell
behind the famous Baltimore a.
Ohio deal can you not tell somethiI
about that7
This innocent li'te inlerrogatory W
sufficient 10 set both Mr.. Meyer al
Mr.. lyes 70 talking. aud the way IN,
roasted that grest corporation won